M&T Bank Corp Invests $43.20 Million in SL Green Realty Corporation $SLG

Key Points

• M&T Bank Corp purchased 941,818 shares of SL Green in Q4 — about a $43.2 million investment that represented roughly a 1.32% stake at quarter-end.
• SL Green reported Q4 EPS of $1.13 (vs. $1.10 consensus) and revenue of $159.8M (slightly below estimates), and recently paid a $0.6175 quarterly dividend (annualized $2.47) for a ~5.7% yield, while showing negative ROE and net margin.
• Analyst sentiment is mixed-to-neutral with an average rating of "Hold", an average price target of $51.15, and a split of 8 Buys, 9 Holds and 2 Sells.

M&T Bank Corp bought a new position in SL Green Realty Corporation (NYSE:SLG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 941,818 shares of the real estate investment trust's stock, valued at approximately $43,201,000. M&T Bank Corp owned approximately 1.32% of SL Green Realty at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC acquired a new position in shares of SL Green Realty in the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC acquired a new position in shares of SL Green Realty in the 3rd quarter worth approximately $29,000. Whittier Trust Co. acquired a new position in shares of SL Green Realty in the 3rd quarter worth approximately $29,000. Triumph Capital Management acquired a new position in shares of SL Green Realty in the 3rd quarter worth approximately $45,000. Finally, Cornerstone Planning Group LLC grew its position in SL Green Realty by 12,114.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust's stock worth $51,000 after acquiring an additional 848 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Down 1.3%

Shares of SLG opened at $43.02 on Thursday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -17.14 and a beta of 1.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.66 and a current ratio of 3.03. The business's fifty day moving average price is $38.66 and its two-hundred day moving average price is $44.63. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.91.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.03. The firm had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 4.06% and a negative net margin of 15.77%.The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $1.81 EPS. On average, analysts predict that SL Green Realty Corporation will post 4.65 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.7%. SL Green Realty's dividend payout ratio is -98.41%.

Analyst Ratings Changes

SLG has been the topic of a number of research analyst reports. Mizuho set a $38.00 price target on SL Green Realty and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. BTIG Research decreased their price target on SL Green Realty from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. Scotiabank set a $52.00 price target on SL Green Realty and gave the stock a "sector outperform" rating in a research report on Friday, March 13th. Barclays decreased their price target on SL Green Realty from $54.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. Finally, UBS Group set a $61.00 price target on SL Green Realty in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $51.15.

About SL Green Realty

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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